Monday, March 17, 2014

Reason for Great Global


Reason for Great Global Recession in  IT Industry

Topic      :  Great Global Recession 
Phase      :  Triple Dip Great Global Recession 
Industries :  Aviation, 
              Banking, 
              Hospitality, 
              Real Estate, 
              IT (Information Technology).
              Educatiom



Global Recession Affected Industries

Airline Industry
Automobile Industry
Banking Industry
Education Industry
Hotel Industry
Real Estate Industry
Software Industry
Tourism Industry

Global Recession Affected Professions

Aviators
Bankers
Contractors
Engineers
IT Professionals
Managers [ MBAs ] 



What is this Great Global Recession – 

Great Global Recession is normally Defined as a significant Decline in Activity across the Economy, Lasting longer than a Few Months. It is mainly visible in Industrial Production, General Employment, Per-capita Income and Wholesale & Retail Trade. 

A normal Indicator of Great Global Recession is Two Consecutive Quarters of Negative Economic Growth which is measured by a Country’s Gross Domestic Product (GDP). 

Recession is a Global Phenomena. About 90% of the working Population has been directly affected by it worldwide. The People indirectly affected by Recession are the Families of Workers. We will go into more depth of this Global Crisis in detail in this as-well-as following Chapters.

To understand Great Global Recession We needs to go back 30 Years Back and devide 
into 3 decades. We will start with the Industry which was the starting Point of this Disease.  The IT and ITES (Information Technology Enabled Services) Industry. Before
Great Global Recession we had seen Boom Time [ 1990 - 2005 ] and Great Globalization all over. The Reason for the Great Global Recession



1981 – 1990 : 
It all started way back in 1980s when the Transition from Papers to Digital form was just beginning world wide and the Boom which we witnessed 20 years back, was in its initial Phase. This was a Time when even Television was seen as a Luxury. Lifestyle and Infrastructure was very basic and Education till Graduation was appreciated a lot. Letters which were typed using Typewriters instead of hand-written ones, were considered more important. People were aware about the presence of Computers somewhere on Earth but seeing one and working on it was still a far-fetched Dream. Even imagining one was impossible for many upper-Middle class individuals. The Terms ‘Information Technology (IT)’ and ‘Information Technology Enabled Services (ITES)’, which are commonly used now, were not even coined. 

By the end of 80s, various Typewriting Courses were on its peak and Typewriting Speed was a main criteria of Selection for various positions in Offices. It opened a lot of Job opportunities for People especially Middle-class Girls, who became employable after Basic Education and doing a course in Typewriting which was also out-of-reach for many Households.  So New IT Companies who could work on DOS and Software Engineers who could work on DOS or Fox Pro were in Great Demand and were treated as Gods. So the Demand for So called Software or IT professionals were at High. All of them were getting paid heavily. Due to heavy Demand for B Tech [ CS / IT ]  MBA, MCA and related Courses were given umpteen Value and MBAs of 25-26 years of Age, were recruited with High starting Pay-packages. There was a sea-gap between the Youths of the same Age who used to get USD  10,000 – 15,000 PA  with the same Years of quality Education and the Youths of 21st Century who started getting USD $ 20,000 – $ 80,000 PA.  after doing MBAs or MCAs. Per-Capita Incomes boomed further with many Students getting recruited to IT Companies and other flourishing Industries at various levels with ever increasing Salaries. Youths were affording Expensive Cars, five Star Hotels and Travel By Air. Even they were buying expensive Real Estate. 

Global Booming Industries in 1981 – 1990

Software Industry
Airline Industry
Automobile Industry
Banking Industry
Education Industry
Hotel Industry
Real Estate Industry
Tourism Industry



1991 – 2000 : 

End of 1980s and beginning of 1990s saw the introduction of Computers in India by our Former Prime Minister, Late Captain Rajiv Gandhi. It was a Revolution in Indian Industry and we are still grateful to Capt Gandhi for the same. By the middle of the Decade, the basic Infrastructure was completed.

Computerisation of various Government Offices was rampant as a much-required drive. Demand for Typewriting Courses started slowing down and its place was taken up by Computer Courses. Various big and small Computer Training Institutes mushroomed like NIIT, APTECH, UPTECH etc, besides several others throughout the Country. Demand by Students to learn operating a Computer was extreme and supply was low. 

Demand for Computer-Literate Professionals for various Government and Private Jobs also flourished and a better Future was welcoming everybody. Even little Knowledge of Computers was enough. The Per-Capita Income increased with the opening up of various Entrepreneurial Ventures wholly based on Computers. Many new Courses on Software and Hardware Engineering in Colleges came up which witnessed a heavy interest by Students. Also, the Fees for such Courses was Sky-High but yet the Demand was at its peak too. Thus, by the end of this Decade, we saw the dawn of Information Technology in India which was set to position India firmly on the Global Map of Technical expertise.

Global Booming Industries in 1981 – 1990

Software Industry
Banking Industry
Education Industry
Hotel Industry
Real Estate Industry



2001 – 2010 : 

The advent of 21st Century was special. Computers had established themselves in India and Supply of IT Education was equal to the Demand. Lots of Management Colleges also mushroomed and were in high Demand. MBA, MCA and related Courses were given umpteen Value and MBAs of 25-26 years of Age, were recruited with high starting Pay-packages. There was a sea-gap between the Youths of the same Age who used to get USD $ 10,000 – 15,000 PA - with the same Years of quality Education and the Youths of 21st Century who started getting USD $ 20,000 – USD $ 80,000 PA after doing MBAs or MCAs. Per-Capita Incomes boomed further with many Students getting recruited to IT Companies and other flourishing Industries at various levels with ever increasing Salaries.


Global Booming Industries in 2001 – 2010 

Banking Industry
Education Industry
Real Estate Industry

The main Industries which were indirectly affected by this Boom were Aviation, Hospitality, Real Estate and Banking.

More-and-more people, at this time, started travelling by Trains, even for Long Distances. They started opting to stay at a 2-Star Hotel on Vacations in place of 4 or 5-Star, which their Parents preferred. This happened due to the Less or No Incomes within Families. So, in short, the Graph was going Lower in consonance with the Stock Exchange and India’s GDP, which was nearing 6% by the end of the last Decade.
Due to very Less Demand for B Tech [ CS / IT ]  MBA, MCA and related Courses were given No Value and MBAs of 22-26 years of Age, were  High starting No Pay-packages. There was
Youths were struggling a lot for a Small Jobs in IT or Management Sectors. 


Global Recession Affected Industries

Airline Industry
Automobile Industry
Banking Industry
Education Industry
Hotel Industry
Real Estate Industry
Software Industry
Tourism Industry



Global Recession Affected Professions

Aviators
Bankers
Contractors
Engineers
IT Professionals
Managers [ MBAs ] 

2011 – Present: Whatever goes up has to come down. Everything in the World is Cyclical in Nature and situations repeat themselves. Similarly, with every Boom comes a blast too. Too much of anything is dangerous and this is what is happening since the end of the last Decade. Because of so much Demand, lots of IT and Management Institutes came up in every nook-and-corner and were charging heavy Fees. But, Jobs were limited and Supply of Job-seekers was high. The result was that even highly-qualified MBAs, MCAs and Engineers were not getting the Jobs they deserved and they started opting for low-paying Jobs which were nowhere related to their Qualifications. 

As in the time of Boom, the Industries worst affected during this low-Phase were Aviation, Hospitality, Real Estate and Banking along with IT. The GDP currently is trailing at the levels of around 5% which is very very low when compared to that of last decade. 

The Professionals directly affected were Software Engineers and Management people. Those who were indirectly affected were Bankers and Aviation Professionals. There was a lot of Competition within the Industries as many big and small Businesses came up and it affected the Financial Health of these Corporations. The Times were very different than those from 1995 – 2000 when only a few Companies enjoyed Monopolies. Many Corporations started filing for Bankruptcies now and were Firing their Staffs. Highly Qualified people were now becoming Jobless and were settling for low-paying Jobs. 

As a result, people have started downgrading their Lifestyle now. They are again opting for Trains than Flights. This has been proved by the dismal Performances of all the Airlines in India since last few Years. They are again settling for 2-3 Star Hotels. So, overall they are again downgrading their Life which is very very difficult as they are used to a flamboyant Lifestyle. 

This is what has been termed as Recession which was witnessed in 2008 and is again raising its Hood. There are a lot of Lessons to be learnt both by our Governments and Industry Intelligentsia otherwise situation can go out of control.

The above was a Synopsis of the Reason for the Crisis which has affected all of us in some way or the other. In the following Chapters, we will discuss the Subject in more detail. 

1) Economic boompreceding the crash.

2) A Recession going on for a while. Mostly top gurus and players in business and government were aware of it. General public did not realize it for a while and remained in the mood of boom. By the time the Recession and economic slow down becomes known in general public it is too late. Large proportion of small investors and general public looses every thing they had and owned.

3) During the boom, before crash, under the influence of corporations and their lobbies, government ventures out in the world, mostly in the form of war or wars, to claim more influence and control in international affairs and in the national affairs of other countries, resulting into huge debts and deficits.

4) Bad Business Practices getting more and more common in Corporates and Banks, right before crash. 

5) Growing unemployment, under-employment, and seriously compromised buying power of average consumer.


Objectives

We will be reviewing two major causes of Recession of 2008, the preexisting low interest rate and high risk investments made due to low government regulations especially in the housing market. It was observed that around 2001, the government to boost the economic growth lowered the interest rate and for the most of the boom period of 2001-2007 it remained under 1%. It gave business and people access to abundance in easy credit which resulted in economic growth. As we will review, it is usually a short term measure and the adverse effects of such growth rise up sooner or later. The second area of focus will be high risk investment. The low interest rate persuaded investors to seek an alternative of secure government investments with low returns to more profitable avenues with high risk. One of the chief areas was the sub-prime markets as the investors had already utilized the credit-worthy borrowers and now they moved to riskier investments with high returns. The subprime mortgage became the favorite for investment as the regulations were relaxed to allow disadvantage people to obtain homes.

Literature Review

We will be reviewing the literature on the two causes of the Recession. First we will be reviewing the interest rate will be going through the studies which recommends that its effects on economic growth. We will be also looking at the effect of interest rate other decisions which caused the investors to opt for high risk investments and sub-prime investments...

4 years The bursting of the speculative bubble in shares led to further selling as people who had borrowed money to buy shares had to cash them in, when their loans were called in. Also called the Great Crash or the Wall Street Crash, leading to the Great Depression. Recession of 1937–1938 (U.S.) mid-1937 to mid-1938 1 year This share price fall was triggered by an economic Recession within the Great Depression and doubts about the effectiveness of Franklin D. Roosevelt's New Deal policy.

In our Next Blogs will Cover Following Topics 

Great Global Recession
Global Recession Causes 
Global Recession in Asia
Global Recession in USA
Recession in UK
Economic Recession 
UK Recession Timeline
UK Recession Recovery
UK Recession Causes
UK Recession Facts
Double-Dip Recession UK
Triple-Dip Recession UK
Recent Recession in the UK
Double-Dip Recession USA
Triple-Dip Recession USA
Recent Recession in the USA
Global Recession Causes and Consequences
Top 10 US Industries
Top 10 Largest Industries
Top United States Industries
U.S. Growth Industries
Top  Recession Hit Industries in America

Blog By  

Pragya Banerjee MBA (Finance); 7+ years of work experience
email: pragyablogger@gmail.com
 pragyasonal@gmail.com
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Great Global Recession in  IT Industry,
UK Recession Facts,
Double-Dip Recession UK,
Triple-Dip Recession UK,
Recent Recession in the UK,
Double-Dip Recession USA,
Airline Industry,
Automobile Industry,
Banking ,
Education Industry,
Hotel Industry,

Sunday, March 16, 2014

Flight : Delta Airlines DA2654

Flight : Delta Airlines
          DA2654
Route  : LON - NYK
ETA    : 0805
Date   : 24 Feb 2010
Captain : Capt John Mark
Co Pilot : Capt Herry Golfin
Flight Attendant : Julie Buker
Passanger : Maria Ber



On a plane bound for New York from London , the Flight Attendant Julie Buker approached a blonde Maria Ber sitting in the first class section and requested that she move to the economy section since Maria Ber didn't have a first class ticket. Maria Ber replied,

“I'm blonde,
I'm beautiful,
I'm going to New York
and
I'm not moving.”

Not wanting to argue with a customer, the flight attendant Julie Buker asked the Co-Pilot  Capt Herry Golfin to speak to her. Capt Herry Golfin went to talk with the woman, asking her to please move out of the first class section. Again, the blonde replied,

 “I'm blonde,
I'm beautiful,
I'm going to New York
and
I'm not moving.”

Capt Herry Golfin returned to the cockpit and asked the Captain Capt John Mark what he should do. The Captain Capt John Mark said, “I'm married to a blonde and I know how to handle this.”

Capt John Mark went to the first class section and whispered in the blonde's ear.  She immediately jumped up and ran to the economy section, mumbling to herself, “Why didn't anyone just say so?”

"Surprised, the Flight Attendant and the co-pilot asked the captain what he said to her.

Capt John Mark replied, “I told her the first class section wasn't going to New York.”
LOL

Happy Landings ..........

Capt Shekhar Gupta
CEO
AeroSoft Corp
W : www.aerosoft.co.in
www.aerosoftseo.com
http://www.aerosoft.in
http://www.aerosoftorg.in
http://www.aerosoftcorp.in
E  :  shekhar@aerosoft.in


Friday, March 7, 2014

Malaysia Airlines Flight 370, a Boeing 777-200ER, is Missing


Airline   : Malaysia Airlines
Call Sign : MH 370,
Aircraft  : Boeing 777-200ER
Status    : Missing So far
Crew      : Cockpit Crew 02
           Cabin Crew 10
Captain   : Capt Zaharie Ahmad Shah, Age  50
Flight Ex : Flying Hours of 18,000 hours.
First officer : Capt Fariq Ab.Hamid Age  27.
Flying   Ex : 2,700  Hours.


The Airline said the Flight had lost contact with Malaysian Air traffic controllers at 2.40 a.m, just over two hours into the flight.A Malaysia Airlines flight carrying 227 passengers and 12 crew lost contact with air traffic controllers early on Saturday en route from Kuala Lumpur to Beijing, the airline said in a statement.
"Malaysia Airlines is currently working with the authorities who have activated their search-and-rescue teams to locate the aircraft," it said.

Flight MH 370, operating a Boeing B777-200 aircraft departed Kuala Lumpur at 12.21 a.m. (1621 GMT Friday) and had been expected to land in the Chinese capital at 6.30 a.m. (2230 GMT) the same day.

The airline said the flight had lost contact with Malaysian air traffic controllers at 2.40 a.m, just over two hours into the flight.

China's CCTV said 160 Chinese nationals were onboard the flight, according to microblogging website Weibo.

Chinese state TV also reported there had not been any reports received yet about any aircraft crashed in Chinese waters.



State news agency Xinhua reported radar contact with the flight was lost while it was in Vietnamese airspace.

If the plane is found to have crashed, the loss would mark the second fatal accident involving a Boeing 777 in less than a year, after an unblemished safety record since the jet entered service in 1995.

Last summer, an Asiana Airlines Boeing 777 crash landed in San Francisco, killing three passengers.

Boeing said it was aware of reports that the Malaysia Airlines plane was missing and was monitoring the situation but had no further comment.

China helping locate missing Malaysia Airlines plane

China has dispatched two maritime rescue ships to the South China Sea to help in rescue work for a missing Malaysia Airlines aircraft. The airline said the flight had lost contact with Malaysian air traffic controllers at 2.40 a.m, just over two hours into the flight.

A press release from the airlines said:


Ladies and Gentlemen, we are deeply saddened this morning with the news on MH370.

Malaysia Airlines confirms that flight MH370 had lost contact with Subang Air Traffic Control at 2.40am, today. There has been speculation that the aircraft has landed at Nanming. We are working to verify the authenticity of the report and others.

Flight MH370 was operated on a Boeing 777-200 aircraft. It departed Kuala Lumpur at 12.41 am earlier this morning bound for Beijing. The aircraft was scheduled to land at Beijing International Airport at 6.30am local Beijing time.

The flight was carrying a total number of 239 passengers and crew - comprising 227 passengers (including 2 infants), 12 crew members. The passengers were of 14 different nationalities - citizens from:-

1.    China - 150 plus 2 Infants

2.    Malaysia - 40

3.    Indonesia - 10

4.    Australia - 5

5.    France - 4

6.    United States of America - 2 pax plus 1 Infant

7.    New Zealand - 2

8.    Ukraine - 2

9.    Canada - 2

10.  Russia - 1

11.  Italy - 1

12.  Taiwan - 1

13.  Netherlands - 1

14.  Austria - 1

This flight was a code share with China Southern Airlines. We are working with authorities who have activated their Search and Rescue team to locate the
Flight MH Aircraft.

Our team is currently calling the next-of-kin of passengers and crew.

The flight was piloted by Captain Zaharie Ahmad Shah, a Malaysian aged 53. He has a total flying hours of 18,365 hours. He joined Malaysia Airlines in 1981. First officer, Fariq Ab.Hamid, a Malaysian, is aged 27. He has a total flying hours of 2,763 hours. He joined Malaysia Airlines in 2007.

Our focus now is to work with the emergency responders and authorities and mobilize its full support. Our thoughts and prayers are with all affected passengers and crew and their family members.



 


The airlines will provide regular updates on the situation. The public may contact +603 7884 1234. For media queries, kindly contact +603 8777 5698/ +603 8787 1276.

Next-of-kin may head to the Support Facility Building at KLIA's South Support Zone. For directions, call 03 8787 1269.

Malaysia Airlines plane |
Malaysia Airlines jet |
Beijing bound plane |
Flight MH 370 |
Malaysian air traffic



MH370 schedule. (Malaysia Airlines flight: Kuala Lumpur ...

MH 370 is an international flight departing from Kuala Lumpur airport, Malaysia (KUL) and arriving at Capital, Beijing airport, China (PEK).
On-board MH-370 KUL - PEK - YouTube

By tukun59 · 3 min · 355 views · Added 25-08-2012
On-board MH-370 KUL ... 8:05 Malaysia Airlines B777-200 MH370 landing at Beijing Capital International Airport [window view] by tweiyang42 1,283 views;
Malaysian jet vanishes with 239 aboard, China sends two ...

Flight MH 370, operating a Boeing B777-200 aircraft departed Kuala Lumpur ... the loss would mark the second fatal accident involving a Boeing 777 in less than a ...
News about Mh 370 B777

UPDATED: Malaysia Airlines Flight 370, a Boeing 777-200ER, is Missing - Airline Reporter

UPDATED: Malaysia Airlines Flight 370, a Boeing 777-200ER, is Missing




Malaysia Airlines flight 370 is missing. The flight, operating Kuala Lumpur (airport code: KUL) to Beijing (airport code: PEK), disappeared and “lost contact”…
Malaysian jet vanishes with 239 aboard, China sends two ships for search
India Today·9 minutes ago
Malaysia Airlines says lost contact with plane carrying 239 people

Flight MH 370, operating a Boeing B777-200 aircraft departed Kuala Lumpur at 12.21 a.m. ... an Asiana Airlines Boeing 777 crash landed in San Francisco, ...
Malaysia Airlines flights from Kuala Lumpur (KUL) to ...

MH 370: Kuala Lumpur International Airport (klia) Beijing Capital International: 26h ... Boeing 777 all pax models: MH 784: Kuala Lumpur International Airport (klia)



Airline  : Malaysia Airlines
Flight   : MH 370,
Aircraft : Boeing 777-200ER
Status   : Missing So far
Crew     : Cockpit Crew 02
           Cabin Crew 10
Captain  : Capt Zaharie Ahmad Shah, Age  50
Flight Ex : Flying Hours of 18,000 hours.
First officer : Capt Fariq Ab.Hamid Age  27.
Flying   Ex : 2,700  Hours.





मलेशिया एयरलाइन्‍स का एक विमान लापता हो गया है. विमान में 227 यात्री और 12 क्रू मेंबर सवार हैं.
मलेशिया एयरलाइन्‍स के लापता विमान MH370 में 14 देशों के यात्री सवार हैं. यात्रियों में 2 नवजात बच्‍चे भी हैं. एयरपोर्ट अथॉरिटी से जुड़े करीब 200 अधिकारी विमान का पता लगाने में लगातार जुटे हुए हैं. अब तक विमान का कुछ अता-पता नहीं चल सका है.

कुआलालम्‍पुर से विमान ने शनिवार को 12.41 बजे बीजिंग के लिए उड़ान भरी थी. विमान को बीजिंग इंटरनेशनल एयरपोर्ट पर स्‍थानीय समय के मुताबिक सुबह 6.30 बजे उतरना था. सुबंग एयर ट्रैफिक कंट्रोल ने मलेशिया के स्‍थानीय समय के अनुसार करीब 2.40 बजे विमान से संपर्क टूटने के बारे में सूचना दी.

MH 370 बोइंग B777-200 द्वारा संचालित एयरक्राफ्ट है. बोइंग ने बयान जारी करके कहा है कि वह लगातार स्थिति पर नजर बनाए हुए है. फिलहाल ज्‍यादा टिप्‍पणी करने से उसने इनकार कर दिया है.

मलेशिया एयरलाइन्‍स के ग्रुप एग्‍जीक्‍यूटिव ऑफिसर अहमद जौहरी याहया ने बयान जारी करते हुए कहा, 'हमारा पूरा फोकस विमान का पता लगाने और प्रभावितों को तुरंत इमरजेंसी सेवा मुहैया करने पर है. प्रभावति यात्रियों, क्रू मेंबर और उनके परिजनों के साथ हमारी पूरी सहानुभूति है'.

विमान में चीन के 160 यात्री सवार हैं. चीन के सरकारी टीवी चैनल ने कहा है कि उसे चीन की समुद्री सीमा में किसी विमान के दुर्घटनाग्रस्‍त होने की जानकारी नहीं है.

विमान में करीब 14 देशों के नागरिक सवार हैं. अब तक की जानकारी के मुताबिक, अलग-अलग देशों के यात्रियों का ब्‍योरा इस तरह है:

चीन: 152 यात्री और 1 नवजात
मलेशिया: 38
इंडोनेशिया: 12
ऑस्‍ट्रेलिया: 7
फ्रांस: 3
अमेरिका: 3 यात्री और 1 नवजात
न्‍यूजीलैंड: 2
यूक्रेन: 2
कनाडा: 2
रूस: 1
इटली: 1
ताइवान: 1
नीदरलैंड: 1
ऑस्ट्रिया: 1


Capt Shekhar Gupta
CEO
AeroSoft Corp
W : www.aerosoft.co.in
E  :  shekhar@aerosoft.in
shekharaerosoftcoin@gmail.com